Tabor Asset Management LP Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Tabor Asset Management LP bought a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 81,113 shares of the company's stock, valued at approximately $2,476,000. Tabor Asset Management LP owned approximately 0.57% of Surmodics at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock valued at $137,000 after purchasing an additional 880 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Surmodics in the 4th quarter worth $217,000. Polymer Capital Management US LLC bought a new position in Surmodics in the 4th quarter worth $255,000. DeepCurrents Investment Group LLC bought a new position in Surmodics in the 4th quarter worth $260,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Surmodics in the 4th quarter worth about $262,000. Hedge funds and other institutional investors own 96.63% of the company's stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th.

Surmodics Price Performance

Shares of SRDX stock traded up $0.34 during mid-day trading on Monday, hitting $30.55. The company had a trading volume of 2,568 shares, compared to its average volume of 212,431. Surmodics, Inc. has a 52-week low of $26.00 and a 52-week high of $41.88. The stock's 50 day moving average price is $29.41 and its 200-day moving average price is $31.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.14 and a quick ratio of 3.99. The company has a market capitalization of $436.87 million, a P/E ratio of -22.01 and a beta of 1.31.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $28.09 million during the quarter, compared to analysts' expectations of $32.23 million. Surmodics had a negative net margin of 16.34% and a negative return on equity of 7.10%. Equities research analysts forecast that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Surmodics Company Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).

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